NAXS participates in a private placement of new shares by Scout Gaming Group

Scout Gaming Group (the “Company”) is a leading B2B Fantasy Sport solutions providers, listed on NASDAQ First Noth. NAXS was a cornerstone investor in the December 2017 IPO of the Company. Scout Gaming Group has effected a private placement of new shares with gross proceeds in the amount of SEK 42 million directed towards institutional investors, including Swedbank Robur Ny Teknik, Novobis AB and Knutsson Holding AB. NAXS has subscribed to its pro-rata share of the private placement, corresponding to 25,437 shares. The subscription price was set at SEK 47/share.

The net proceeds from the private placement will principally be used to finance the Company’s expansion in the US market, where it has recently signed partnership agreements with Milestone Entertainment and Metric Gaming.

The transaction is subject to its approval by an extraordinary shareholders meeting of Scout Gaming Group, expected to take place on or around November 15, 2018.